Air Fryer is a cooking appliance which was first introduced in the market by Philips. The Air Fryer uses rapid air technology to cook the food by blowing hot air on the food. The hot air circulated around the food is around 200 Celsius, which helps to cook the food without or with a very little amount of oil. The air fryer has brought a revolution in the way of cooking food. Many health conscious consumers are preferring such products as the food prepared in air fryer is very healthy. Most of the air fryer now a day comes with a knob which helps to control the temperature and allows more precise cooking.
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Air gryer market has been segmented on the basis of application, distribution channel and region. On the basis of application, the air fryer market is segmented into HoReCa and Household. Among both the segments, HoReCa is expected to account the maximum value share. On the basis of distribution channel, the air fryer market is segmented into hypermarket/supermarket, specialized stores, convenience stores, online stores and others. Online stores are partnering with big brands and are offering the lips care products with attractive pricing in order to cater to increasing demand of air fryer. Competition is also expected to intensify in the market in the forecast period mainly due to the presence of other players offering air fryer products at reasonable prices.
Market Regional Outlook:
Regional segment for air fryer market includes five different regions: North America, Latin America, Europe, Asia Pacific including Japan and Middle East & Africa. Among all these region, North America is expected to account the major market share internationally, as the consumers in this region are becoming more health conscious and prefer oil free food products. In North America, U.S. is generating the major revenue. This product is also gaining traction in the Asia Pacific region and is expected to grow at a higher CAGR in the air fryer market.
The growing number of health conscious people around the world is expected to drive the global air fryer market. Consumer preference for oil free food item has also grown over past four to five years, as it is cholesterol free or has very less amount of cholesterol in it. Advertisements in various social media, endorsements done by celebrities are growing at a faster pace, because of which the demand for air fryer is also increasing, all such reasons are helping the market to grow over the forecast period at a significant rate.
Increasing opportunities and technology innovations in the industry is also another factor in driving the air fryer market. The rising economic growth in developing economies has been a key factor driving the growth of the global air fryer market in recent years. Availability of a vast range of air fryer is resulting in increasing consumer base and this is expected to fuel market growth in the coming years. The use of various internet medium is further expected to boost the growth of the industries offering air fryer. In order to expand global presence, several companies have already entered into mergers to increase the production of air fryer products, this kind of steps are expected to drive the market of air fryer over the coming years.
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Market Key Players:
Some of the key players in air fryer market are Koninklijke Philips N.V., Bajaj Electricals Limited, Pigeon Corporation, Kenstar India Pvt Ltd, TTK Prestige Limited, American Micronic Instruments, Inc., Usha International Ltd and Havells India Limited among others.
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